Global Shipping Business Tied to Mitch McConnell, Secretary Elaine Chao Shrouded in Offshore Tax Haven

On June 6, 2016, Majority Leader Mitch McConnell joined his wife, Elaine Chao, now the U.S. secretary of transportation, at a ceremony on the Harvard Business School campus to dedicate a new building emblazoned with the Chao family name. Funded by a $40 million gift from the Chao family and its foundation, the building would serve as a new hub for Harvard’s Executive Education program. But the family’s generosity appears to have come at the expense of taxpayers — the money, it turns out, would already have been in the public treasury had it not been sheltered from the government in complex offshore tax havens.

Over a period of five years, millions of dollars were quietly funneled to a Chao family foundation via two offshore firms that list a New York address but are not incorporated anywhere in the United States. Two entities with the same names, however, are incorporated in the Marshall

... read more at: https://theintercept.com/2018/02/05/mitch-mcconnell-elaine-chao-offshore-paradise-papers/

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